Meeder Asset Management Inc. Sells 19,701 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Meeder Asset Management Inc. reduced its stake in Lowe's Companies by 78.3%, owning 5,471 shares after selling 19,701 shares in the first quarter.
• Several institutional investors have increased their positions, with FMR LLC owning over $6.4 billion in shares after a 1.0% increase in the fourth quarter.
• Lowe's declared a quarterly dividend of $1.20, reflecting an increase from the previous $1.15, with a 2.09% yield based on an annualized payout of $4.80.

Meeder Asset Management Inc. decreased its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 78.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,471 shares of the home improvement retailer's stock after selling 19,701 shares during the quarter. Meeder Asset Management Inc.'s holdings in Lowe's Companies were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. FMR LLC grew its holdings in Lowe's Companies by 1.0% during the fourth quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock valued at $6,483,558,000 after purchasing an additional 259,766 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lowe's Companies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after purchasing an additional 245,876 shares during the last quarter. Northern Trust Corp boosted its stake in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Lowe's Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after buying an additional 323,371 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Lowe's Companies by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 3,369,942 shares of the home improvement retailer's stock valued at $831,702,000 after acquiring an additional 66,300 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 1.1%

Shares of NYSE LOW traded down $2.55 on Wednesday, reaching $227.49. 2,047,133 shares of the company's stock traded hands, compared to its average volume of 2,644,854. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company has a market cap of $127.49 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90. The business's 50 day simple moving average is $222.93 and its two-hundred day simple moving average is $232.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned $3.06 EPS. Analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on LOW shares. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research report on Tuesday, July 22nd. Stifel Nicolaus dropped their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Morgan Stanley cut their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average price target of $271.12.

About Lowe's Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.